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KATHMANDU HOLDINGS LIMITED ASX / NZX / MEDIA ANNOUNCEMENT 29 June 2021 KathmanduⓇ RIP CURL RICURI Obōz COVID - 19 lockdowns impact Australian trade Kathmandu Holdings Limited ( NZX / ASX : KMD ) ( the Group ) today provides the following trading update following the recent announcement of additional COVID - 19 restrictions in New South Wales , Australia . A number of the Group's retail stores have suffered renewed disruption to trading from COVID - 19 lockdown restrictions in Australia , with 40 stores currently closed in New South Wales for a minimum of two - weeks , and 26 further stores closed in Western Australia for a minimum of 4 days from today . This follows the two - week lockdown in Victoria which impacted 62 stores in early June . As a result , under the currently announced restrictions , Group total sales for FY21 are expected to be below original expectations at approximately $ 930 million , and underlying EBITDA is estimated at c . $ 120 million.1 The impact of the New South Wales and recent Victorian lockdowns and associated movement restrictions is estimated to be c . $ 13 million on EBITDA . Uncertainty remains due to the evolving COVID - 19 situation in Australia , and this expectation is subject to change . Kathmandu brand had a positive start to winter , with trading broadly in line with pre - COVID - 19 levels before Australian lockdowns began to impact the key winter trading period . Rip Curl has continued to trade strongly in the key regions of North America and Europe , where , despite COVID- 19 related disruptions , direct to consumer sales remain well above pre - COVID - 19 levels . Wholesale orders received for FY22 continue to show double - digit growth over FY19 . Oboz has seen record sales performance in the second half of FY21 , with wholesale orders for FY22 significantly above both FY19 and FY20 . Commenting on trading , Group CEO Michael Daly said : " COVID - 19 continues to be a disrupting factor , in particular for Australasia during the key trading period for Kathmandu . Excluding these impacts , Kathmandu had a solid start to the winter season , and Rip Curl sales momentum continues . Trading conditions in the Northern Hemisphere for both Rip Curl and Oboz are particularly strong across our online , retail and wholesale channels , as our Group benefits from a diversified mix of channel and geographies . " ENDS - This announcement has been authorised for release by the Board . For further information , please contact : Investors Eric Kuret Market Eye P : +61 417 311 335 Media Helen McCombie Citadel - MAGNUS P : +61 2 8234 0103 1 Excludes the impact of IFRS 16 , recent IFRIC interpretations , and one - off non - cash items . Includes net government subsidies . Kathmandu Holdings Ltd kathmanduholdings.com 1